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Reconstitution of Partnership (Admission of Partner) — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsBook Keeping & AccountancyReconstitution of Partnership (Admission of Partner)2 Marks
Question
The goodwill brought in by a new partner is shared by the old partner.
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Answer

This statement is True.
The reputation of business measured in terms of money is known as goodwill and on this, old partners have right so when goodwill is brought in by a new partner in the business, it is shared by the old partner.

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